Over the decades, the concept of gaming (or video games) has evolved from a simple pong game to a complex software solution for consoles, PCs, and mobiles, providing a virtually unlimited range of genres and interactive modes that turn games from ancillary interactive forms into both complex universes. And fascinates.


The value of the global gaming market was 162. 32 billion in 2020 and expected to reach 295. 63 billion by 2026, registering a CAGR of 10.5% over the 2021-2026 forecast period ”- ReportLinker.com Gaming Market - Growth, Trends, CVD-19 Impact and Release (2021 - 2026)


The epidemic has also affected the gaming market, as millions of people around the world use lockdown to play more games. A March 2020 survey found that video gamers in the United States spent 45% more time playing video games during segregation.


The PC and console markets lag behind the mobile ones, which for the first time in the first quarter of 2021 dominated over 50% of all Internet traffic worldwide, with surprising success in a new kind of gaming market.



Blockchain gaming


The cryptocurrency game landed on the Ethereum network in 2017 and literally halted the network. When gamers rush to taste new types of blockchain gaming, money flows into their stream. The most expensive collectible cat sold in the game was priced at 117,000, which says a lot about the potential for decentralized gaming.


Since then blockchain-based games have come into the production line with a variety of complexities and successes. The first quarter of 2021 saw the launch of an upgrade to crypto gaming in the form of NFT games, which shifted from playable to arc games in collectible games based on the pay to inner policy, as rare NFTs often bring astronomical prices to the market.


Recent statistics from Statista.com show that the global game market value has increased significantly over the past decade and is projected to reach more than 200 billion by 2023. The total market capitalization of NFT exceeds 22 billion in 2021. From $ 338 million by the end of 2020, such possibilities are best highlighted in the sports market, which was valued at more than 495 million in 2020 and is expected to reach more than $ 4 million in 2021. Being done, for the injection of new technologies into new parts that make the engagement process more interesting for gamers and fans.


Fundraising from blockchain game developers is staggering. War Pets, for example, is a binary smart chain-based blockchain game about adorable pets, where each pet has an NFT that can be used for collection, rearing, and pet fighting where players face each other. Another example is Fort - a decentralized ecosystem - recently led the latest unicorn investment in the blockchain gaming market with Griffin gaming partners, valuing 1 billion for the behind-the-scenes blockchain gaming platform. Another example is Bit-Country, which raised more than 4 million a day for its digital, community-controlled metaverse.


It is worth noting that decentralized betting and gaming transactions accounted for more than 80% of all Ethereum network traffic over the past two years. Such statistics are a clear indication of interest that both players and developers are devoting themselves to decentralized infrastructure for a number of reasons. As Ethereum pioneers, however, Benson's smart chain provides many exciting crypto game projects like War Pets.


Also emerging is a new genre of blockchain gaming, combining decentralized finance (DFI) and gaming elements. A good example of such a game is a very popular BSc-based game MOBOX, which combines NFT collectibles with crop farming and other DFI services. MObox allows players to play their NFT games while using their NFTs for crop cultivation, which allows them to spend time and return to the game.



Crypto Gaming vs. NFT Gaming


Crypto gaming and NFT gaming are two separate categories, the first focusing on spending cryptocurrency to earn and transact with other players, while NFT gaming focuses on using native currencies to create and collect unique NFT that can be used for games. Or held and then sold.



Why does gaming need blockchain?


Video gaming is a lock-up industry, where gamers are isolated in their dormitories, couches, consoles, and mobile devices but in a gaming environment with limited options. This limits the interaction process to games only and the tools it provides that typically collect in-game items that may affect in-game character skills or visuals. In a real sense, modern gaming is very isolated because players can only interact with their characters and the game's internal items without any connection to the real world.


Also, while most games can be modified or hacked online and offline, some gamers are given an unfair advantage over others.


Decentralized gaming offers are what gamers need - a cost-effective rather than in-game realization based on an economics policy of transparency, inviolability, and integrity, eliminating the possibility of fraud and enabling gamers to get started.


Blockchain allows developers to explore entirely new horizons in a virtually unlimited and expansive infrastructure that offers uninterrupted possibilities for integrating endlessly diverse modules and technologies, ranging from VR, AR, uninterrupted pseudo drum number generators, and more. All in all, this national technology extends the meaning of gaming beyond the handheld interface.



The problem with blockchain games


Although highly promising, blockchain games have their limitations. Most of all, the transfer fee is not a problem that often bites out large portions of the gamer's earnings. Another problem involves data loss and rewarding those who maintain networks in the game universe. The user interface and experience are also big barriers to adopting blockchain-based games. Until recently, blockchains were still scaling badly, and authorities saw money laundering using the NFT as a new form of crime.



The future of blockchain games


The statistics speak louder than any estimate because the market is quick to spot an opportunity that determines the winners and promises rewards and profits. Gamers want variety, new experiences and are eager to start making money on their favorite games. What more can be said about the potential of blockchain games, when blockchain itself is still soft and just starting to develop its potential.


In the coming years, an explosion of new titles is sure to flood the market as a blockchain network scale, allowing users to access games that are more user-friendly, more mobile-friendly, and can provide better graphics and compelling storylines.